It is the growth sector in London at a time when traditional big-space occupiers such as financial services firms and lawyers are a shrinking presence, but does the property industry really understand the TMT sector? Indeed, what actually is the TMT sector?
In a series of special features, we talk to occupiers, industry experts, economists and those in the property industry close to the sector about growth prospects, requirements and the property industry’s relationship with the new kids on the block.
Whether TMT will prove to be TNT and fuel a boom in London’s property market is uncertain. The capital has been a fireworks display compared with the rest of the UK’s damp sparkler in term terms of economic performance, but compare London with some of its European competition – arguably the real test of its performance – and it doesn’t look quite so good.
With an increasing weight of international money looking for a home and some skyline-busting buildings under construction, we ask if London is headed for a boom.
Similar questions are asked about student housing which, like the TMT sector, has experienced a growth spurt during the past couple of years. However, the introduction of tuition fees and restrictions on foreign students could cast a shadow.
Meanwhile, south of the river, developer Lend Lease hopes to have cranes casting shadows over its Elephant & Castle regeneration site. The long-talked about project looks like it might just be about to make an impression on the skyline.
